Visionary Ventures for Future Made Possible by Science
IP group
Market/Symbol
LON:IPO
Price
£0.46152.66%
Market Cap
£461m
PE Ratio
0
Average Volume
4.8m
Pricing delayed 2 hours. Sep 16, 2024 4:00 AM
Investment thesis
IP Group
IP Group is a publicly listed, early-stage investor across the life sciences, cleantech and deeptech sectors. Each highly innovative company within its portfolio aims to have meaningful societal impact as well as generating substantial financial returns. With over 20 years of experience and significant sector expertise, IP Group has a proven track record having backed three companies that have achieved billion-dollar valuations.
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WHAT THE PRO’S ARE ASKING
Here are the questions that professional investors are asking before making an investment decision.
Two companies that stand out are Hysata and Istesso. Hysata is the world's most efficient hydrogen electrolyser company and has made significant technological process this year. It has received an incredibly high level of commericial interest for such a young company.Istesso discovers and develops drugs for severe chronic diseases such as rheumatoid arthritis. Its current lead compound is in clinical trials and has shown promising signs that it may act as a cure to the underlying condition as well as just treating symptoms.
The two main challenges IP Group faces in the current market conditions are capital allocation and performance.In the difficult market conditions there are less exits and its hard to raise capital. This means IP Group must be prudent in managing its cash in terms of investments and returns to shareholders. IP Group is in a strong position, holding lots of cash and liquid assets. Despite difficult markets, IP Group portfolio companies need to continue to perform. In the near-term, this means successful clinical trials for some of the therapeutics companies and continued growth in their deeptech holdings.
IP Group uses a conservative approach to valuations. Transparency and rigour around its approach is paramount. A substantial proportion of the portfolio is valued at a public share price, or the price of the last funding round. For a significant value of the portfolio, IP Group also gets an independent valuation produced. The Group’s external auditors typically sample more than 90% of the portfolio.
IP group expects significant inflection points from the underlying portfolio in the next 12-18 months to drive net asset value [NAV] per share. The capital allocation policy is to reinvest the majority of cash proceeds, with a smaller portion returned to shareholders. Since the adoption of this policy in 2021, IP Group has returned over £70m to shareholders.IP Group is also making significant strides to boost its investor relations efforts and tell the equity story worldwide.
In the UK there's an increasing discussion around long term capital supporting growth. This includes pension funds directing more capital into private assets and growth assets with the aim of stimulating the economy. IP Group is positioned well to benefit from this.
Company Research
Research
Team
Greg Smith
Chief Executive Officer
Greg was appointed Chief Executive Officer in October 2021. He has more than 20 years of experience in financial services and investment management.
Daniel Baynes
Chief Financial & Operating Officer
David was appointed to the IP Group Board in March 2014 following the acquisition of Fusion IP plc, a company he co-founded in 2003. While at IP Group, David sits on several portfolio company Boards.
Joyce Xie
Managing Director, Global Capital
Joyce joined IP Group in 2016 and has led many cross-border investment transactions. Joyce is one of the founders of IP Group Greater China, helping to build partnerships in Greater China.
Angela Leach
General Council and Company Secretary
Angela has been with the Group since 2007. Before joining the Group, Angela worked as a corporate lawyer at CMS Cameron McKenna and Memery Crystal.
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